- It added 18.48 GW of renewable energy capacity in the fiscal year 2023-24, which is over 21% higher than the 15.27 GW added a year ago.
Ambitious Targets
- India has set ambitious targets for renewable energy and plans to install 500 GW of renewable energy capacity by 2030. It includes a significant increase in solar and wind energy.
- It is a significant increase from the previous target of 450 GW.
Solar Power
- It is a key pillar of India’s renewable energy strategy. The country has 214 sq. km of land under solar parks.
- However, some studies estimate that India may need 50,000-75,000 sq. km, which is about half the size of Tamil Nadu, to achieve its Net Zero targets.
- It is expected to save households up to Rs 15,000-18,000 annually.
Challenges Of Renewable Energy
- High Upfront Costs: One of the most significant challenges of renewable energy is the high upfront costs associated with the installation of renewable energy technologies.
- While renewable energy sources like solar and wind power save money in the long run, the initial setup costs can be prohibitive.
- It is particularly true in developing countries, where the cost of borrowing is high.
- For instance, solar and wind energy systems require extensive land use, which can lead to conflicts over land rights.
- Additionally, these systems require regular maintenance and skilled technicians for installation and repair.
- Solar and wind power, for instance, are dependent on weather conditions and time of day, making them less reliable than traditional energy sources.
- It necessitates the development of energy storage systems and grid infrastructure capable of managing these fluctuations.
- Inconsistent policies and lack of long-term planning can create an uncertain investment environment, discouraging private sector involvement.
- Furthermore, bureaucratic red tape and complex permitting procedures can delay project implementation.
- These materials are essential for the manufacture of renewable energy technologies, and a projected shortage could impact the sector’s growth.
- While some regions have abundant renewable resources, others may lack the necessary infrastructure or resources to harness these energies.
Renewable Energy and Concerns like Food Security in India
- India, the third-largest energy consumer in the world, is making significant strides in its transition to renewable energy.
- The transition to renewable energy in India is fraught with challenges. Land use for renewable energy may strain a variety of ecosystems. Moreover, electricity generation has to compete with alternative uses for land such as agriculture, urbanisation, human habitation and nature conservation.
- Some studies estimate that India may need 50,000-75,000 sq. km of land, about half the size of Tamil Nadu, to achieve its Net Zero targets.
- This land requirement poses a significant challenge as it may lead to the conversion of agricultural land into solar farms.
- Experts worry that this push for renewable energy may lead to food insecurity in the future as the country would need at least 400,000 hectares of land by 2030 to achieve its renewable goals.
- Agriculture is a critical sector in India, providing livelihoods for millions of people and playing a vital role in ensuring food security.
- Any policy that could potentially disrupt agricultural practices or reduce the amount of land available for farming needs to be carefully considered.
Balancing Renewable Energy and Food Security
- Balancing the need for renewable energy with the need to ensure food security is a complex challenge. It requires careful planning and policy-making65. Policymakers need to consider the potential impacts of renewable energy projects on agricultural practices and food security.
- One potential solution is to promote the use of wastelands for renewable energy projects.
- It could help to reduce the pressure on agricultural land and ensure that food production is not adversely affected.
- It includes provisions for viability gap funding for offshore wind energy for an initial capacity of 1 GW.
Conclusion and Way Forward
- Despite these challenges, the transition to renewable energy is crucial for mitigating climate change and achieving sustainable development.
- It requires concerted efforts from governments, businesses, and individuals alike.
Daily Mains Practice Question
[Q] Discuss the major challenges associated with the renewable energy sector in India. How do these challenges impact India’s energy security and environmental sustainability goals?